Industrial Buy and Hold July 19-Present

[Daniel Riccio Jr.]

Investment Info:

Industrial Investment

Purchase price: $600,000
Cash invested: $850,000

Industrial property that was purchased in the "CT Transfer Act". This is for properties that have had some history of either contamination, or had business as tenants that were generators of hazardous waste. Our 24 month projection is for this building to have Gross Rental Income of around $15,000/month once completely subdivided, and renovated with total cash invested of $1M.

How did you find this deal and how did you negotiate it?

Off Market Seller Cold Call

How did you add value to the deal?

Property was also very run down, and needed significant repair. Our main objective is to take larger Units(Some 3500 sqft+) and break them down into smaller units with more manageable rental payments overall, while still having increased rent PSF since units, and building will be renovated. This will allow us to not have as much lease exposure to a loss of a large tenant.

Lessons learned? Challenges?

Learned a tremendous amount about this program through this experience, and plan to have this site completely "Verified" within the next 2 years.